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Re: Should the Buffett Rule" be made law?

Originally Posted by Harry Guerrilla

All in an era when America was the sole economic super power.
Things have changed now, get off it man.

The facts are that when the rates were much highter than they are today we were a super power for good reason. Then we were the biggest creditor nation in the world and now were are now one of the biggest debtor nations in the world. Back then we had a positive trade balance, today we have a negative one. We have sold our sole to the rest of the world by exporting our jobs to China, India, SE Asia, etc, etc, etc. Even service related jobs that can be handled on the phone have been exported to India.

Re: Should the Buffett Rule" be made law?

Originally Posted by pbrauer

The facts are that when the rates were much highter than they are today we were a super power for good reason. Then we were the biggest creditor nation in the world and now were are now one of the biggest debtor nations in the world. Back then we had a positive trade balance, today we have a negative one. We have sold our sole to the rest of the world by exporting our jobs to China, India, SE Asia, etc, etc, etc. Even service related jobs that can be handled on the phone have been exported to India.

The fact that computers are primarily assembled in China instead of here in the U.S. allows for far cheaper prices than they ever would have been. What is the benefit of keeping the production within the U.S. (more low skilled manufacturing positions) as opposed to the cost (less total computers used/produced) in terms of opportunity? Given that our aggregate production possibilities are fixed within relatively short increments of time (it takes time to train employees and build facilities), i find no real short or long term benefit of keeping low skilled labor here in the U.S. at the expense of high skilled labor and manufacturing.

IMO, i would much rather our economy be centered on high tech goods and services as opposed to encouraging skill stagnation (that hinders our long term competitive advantage).

It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

Re: Should the Buffett Rule" be made law?

Originally Posted by pbrauer

The facts are that when the rates were much highter than they are today we were a super power for good reason. Then we were the biggest creditor nation in the world and now were are now one of the biggest debtor nations in the world. Back then we had a positive trade balance, today we have a negative one. We have sold our sole to the rest of the world by exporting our jobs to China, India, SE Asia, etc, etc, etc. Even service related jobs that can be handled on the phone have been exported to India.

To believe the entirety of that, I would have to ignore the productivity rates of American factories and how they have climbed steadily over the years, even into today.
I'd also have to ignore that we were pretty much the only nation left standing with an intact national infrastructure and economy, after WW2 and that is largely why we retained the economic power over the globe.

Fast forward to now, where there are multiple nations competing with from all over the globe.
Wanting for yesterday won't change the facts that the rest of the world has grown to meet us on the economic competitors table.

Those obscene tax rates would definitely cause significant capital flight, because there are a multitude of nations willing to house that money at much, much lower rates.

I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
—Adam Shepard

Re: Should the Buffett Rule" be made law?

Originally Posted by jamesrage

Should the Buffett Rule" be made law?

Yes
No
other
I do not know

Obama to propose new tax rate for millionaires - CNN.com
The White House will propose a new tax rate for people earning more than $1 million a year to ensure that they pay at least the same percentage of their earnings in taxes as middle-income Americans, administration and White House officials told CNN on Sunday. Called the Buffett Rule, the proposal will be part of a comprehensive deficit reduction plan that President Barack Obama will unveil on Monday, according to a senior administration official and White House sources who spoke on condition of not being identified. The information was first reported by The New York Times.

I pick other. I support making everyone pay he same percentage in income taxes regardless of income level and eliminating exemptions .

its too bad you cannot ask incomes. people who aren't facing higher taxes do to that asswipe's scheme really are cowardly to vote for others to pay more taxes

Re: Should the Buffett Rule" be made law?

Originally Posted by pbrauer

The facts are that when the rates were much highter than they are today we were a super power for good reason. Then we were the biggest creditor nation in the world and now were are now one of the biggest debtor nations in the world. Back then we had a positive trade balance, today we have a negative one. We have sold our sole to the rest of the world by exporting our jobs to China, India, SE Asia, etc, etc, etc. Even service related jobs that can be handled on the phone have been exported to India.

so you labor under the delusion that it was high tax rates, not the fact that we were the only industrial power not to get destroyed in WWII that caused this?

Re: Should the Buffett Rule" be made law?

its too bad you cannot ask incomes. people who aren't facing higher taxes do to that asswipe's scheme really are cowardly to vote for others to pay more taxes

By your own admission, you support people paying a far bigger percentage of their income in FICA tax than you do

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There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers